CySEC fined Pegase Capital Officers and Bans Owner for 5 Years

Detail

 CySEC reached the decision that Mr. Michel Pierre Salomon Teman, Mr. Pantelis Ioakim, Mr. Giorgos Miltiadous, Mrs Alexandra Aspri and Mr. Stavros Petrakides have not complied with paragraph 9(1) of CySEC Directive DI144-2007-01 of 2012 for the Authorisation and Operating Conditions of CIFs (‘the Directive’) since, as directors of Pegase Capital Ltd (‘the Company’), they did not periodically assess the effectiveness of the policies, arrangements, and procedures implemented by the Company for complying with obligations provided in the Investment Services and Activities and Regulated Markets Law of 2007, as in force (‘the Law’), and in Directive DI144-2007-02 of 2012 

Official Response from Pegase Capital Ltd
An administrative fine of: 1. €150,000 on Mr. Michel Pierre Salomon Teman, executive director and shareholder with a qualifying holding in the Company during the relevant period; 2. €25,000 on Mr. Pantelis Ioakim, executive director of the Company until 17 March 2016; 3. €25,000 on Mr. Giorgos Miltiadous, executive director of the Company until 17 March 2016.

Source Link

https://www.cysec.gov.cy/CMSPages/GetFile.aspx?guid=c4f2db5e-5712-46be-8beb-79c81ba4daf3